Innodata (NASDAQ:INOD) Shares Down 6.2% – Here’s Why

Innodata Inc. (NASDAQ:INOD)’s share price fell 6.2% during trading on Thursday . The stock traded as low as $48.40 and last traded at $50.47. 390,155 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 2,118,790 shares. The stock had previously closed at $53.80.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INOD. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Maxim Group increased their price target on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Chardan Capital restated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Wedbush started coverage on shares of Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.00.

Innodata Stock Performance

The stock has a market capitalization of $1.44 billion, a P/E ratio of 54.37 and a beta of 2.57. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $44.02 and a two-hundred day moving average price of $32.37.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company had revenue of $59.18 million during the quarter, compared to analysts’ expectations of $53.01 million. Equities analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the completion of the transaction, the director now owns 12,417 shares of the company’s stock, valued at approximately $799,654.80. The trade was a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 385,634 shares of company stock worth $22,639,902. Corporate insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

Institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC grew its position in Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after acquiring an additional 2,207 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Innodata in the 3rd quarter worth about $311,000. Los Angeles Capital Management LLC purchased a new position in shares of Innodata in the 3rd quarter worth about $330,000. Charles Schwab Investment Management Inc. increased its position in shares of Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after purchasing an additional 1,843 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after buying an additional 3,739 shares in the last quarter. Institutional investors own 30.75% of the company’s stock.

Innodata Company Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.